EITI, Baku discuss evaluation of Azerbaijan’s accountability

Economy Materials 5 July 2016 13:58 (UTC +04:00)

Baku, Azerbaijan, July 5

By Maksim Tsurkov – Trend:

Evaluation of Azerbaijan’s accountability as part of the country’s participation in the Extractive Industries Transparency Initiative (EITI) was discussed in Baku.

The discussion was held in the State Oil Fund of Azerbaijan (SOFAZ) at a meeting of the EITI Multi-Stakeholder Group with participation of members of the EITI International Secretariat, Dyveke Rogan and Tatiana Sedova, said SOFAZ on its website.

EITI is a special multilateral and voluntary initiative for improving transparency in the oil, gas and mining sectors. Azerbaijan joined the EITI in 2003. Azerbaijan was awarded the 2009 EITI Award for its commitment to EITI principles and criteria and achievements in EITI Implementation.

In 2015, EITI lowered the status of Azerbaijan in this structure. The decision was made at the 29th meeting in Brazzaville held April 14-15 after the discussions on a report on Azerbaijan.

Following the discussions, the EITI Board decided to lower the membership of Azerbaijan to the candidate status.


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